CNN: Obama on Monday proposed a temporary tax credit for firms that create new jobs in the United States over the next two years, and penalty-free withdrawals from IRAs and 401(k)s in 2008 and 2009.
The Democratic candidate called for new legislation that would give families the option of withdrawing as much as 15 percent of their retirement savings --- up to a maximum of $10,000 --- without facing a tax penalty this year or next. He also called for a temporary lifting of taxes on unemployment insurance benefits.
The Illinois senator also proposed a 90-day foreclosure moratorium for homeowners acting in good faith, and a new effort to address the growing credit crisis at the state and local level.
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